Emerging Lithium producer Core Lithium (ASX: CXO) announced that drilling has recommenced at the Company’s 100% owned Finniss Lithium Project (“Finniss”) located near Darwin in the NT.
HIGHLIGHTS
- Resource expansion drilling and exploration activity is underway at the Finniss Lithium Project.
- A diamond drill rig is on site at Finniss and has commenced drilling.
- RC and RAB drill rigs to arrive and also commence drilling this month.
- Core is kicking off the most extensive lithium exploration and resource expansion drilling campaign at Finniss in the Company’s history.
- Gold exploration activities are also underway in the NT.
- New lithium exploration discoveries expected to add more tonnes to the recent Exploration Target and current Mineral Resource at Finniss.
Diamond core drilling started this week and will be closely followed by a RC rig and RAB rig within the Company’s Finniss Lithium Project later this month.
A key focus of Core’s resource expansion drilling will be on converting a high proportion of the newly acquired prospective ground at Finniss to Resource.
A relatively simple program of regular spaced RC drilling complemented by a proportion of diamond drilling to add further resource information is planned to bring these lithium rich pegmatites into spodumene resources in coming months.
Gold exploration activity at the Bynoe Gold Project has also recommenced. Early stage geological mapping and geochemical surveys are underway ahead of gold discovery drilling programs in 2021, including follow-up drilling at the exciting Far East gold discovery.
Core Managing Director Stephen Biggins said:
“We are excited to be recommencing field work at the Finniss Lithium Project, this time being the most extensive exploration and drilling campaign we have ever conducted at our flagship asset.
“We are confident that, through this program, we will be able to significantly upscale the lithium resources and mine life at Finniss, making Australia’s next lithium mine an even more attractive investment opportunity.”
